Malaysia's PECD plans to issue up to RM 200 million of fixed-rate notes

By Reshmi Basu

New York, June 27 - PECD Bhd. said it plans to issue up to RM 200 million of fixed-rate serial bonds in six tranches.

The tenor on the tranches will range from three to eight years.

Proceeds from the sale will be used toward refinancing bank borrowings, for working capital and for investments.

ABN Amro Bank Bhd. has been mandated as the lead arranger and facility agent.

The Kuala Lumpur, Malaysia-based construction company said the proposed bonds would reduce financing costs.

The Malaysian Rating Corp. Bhd. has assigned an indicative rating of A for the proposed bonds.

The company said it has received approval from Malaysia's Securities Commission.

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